Ethereum Technical Analysis: ETH/USD eying up $363 to clear the path towards $800
- ETH/USD seems unstoppable after beating a $250 resistance level.
- The next resistance point is located at $363, the high of 2019.
Ethereum is clearly leading the crypto space right now after a massive breakout above $250 and $300. ETH bulls managed to crack $288, the 2020-high and were facing practically no resistance until $363. This level was established in June 2019 as the 2019-high and it’s the most crucial resistance point all the way until $800.
ETH/USD weekly chart
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Because the run to $1,400 was so fast and volatile and the way down also happened in just a few months, neither bulls nor bears were able to establish many clear support and resistance levels. Now, Ethereum is facing almost no resistance until its all-time high again.
The $363 level is the most crucial short-term level to beat followed by $515 and then finally $834.
ETH/USD daily chart
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Obviously, this rally has a ton of momentum behind it and most indicators are now extremely overextended but won’t necessarily stop the bulls just yet. It’s hard to really pinpoint when Ethereum will slow down.
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
